2 papers
econ.TH2026
Associative Networks in Decision Making
Jiangtao Li, Rui Tang, Mu Zhang
We present a model of associative networks that captures how decision makers expand their consideration set through mental associations between alternatives. Our model provides a t…
econ.TH2020
A Theory of Updating Ambiguous Information
Rui Tang
We introduce a new updating rule, the conditional maximum likelihood rule (CML) for updating ambiguous information. The CML formula replaces the likelihood term in Bayes' rule with…